Wireless Backhaul Equipment Market to Reach $104.8 Billion, Globally, by 2031 at 12.9% CAGR: Allied Market Research

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Mar 02, 2023, 06:59 ET

The increasing demand for high-speed and reliable connectivity, the rise in testing of 5G technology, surge in use of millimeter wave technology-based scanner systems in transportation and airports, and the rise in demand for smart devices drive the global wireless backhaul equipment market.

PORTLAND, Ore., March 2, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Wireless Backhaul Equipment Market by Offering (Equipment, Services), by Frequency Band (4GHz to 11 GHz, 6GHz to 42 GHz, Millimeter Waves (mmW)), by End Use Industry (Telecommunications, Healthcare, Government and Defense, Commercial, Transportation and Logistics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031" According to the report, the global wireless backhaul equipment industry was valued at $31.9 billion in 2021 and is estimated to generate $104.8 billion by 2031, witnessing a CAGR of 12.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Drivers, Restraints, and Opportunities

The increasing demand for high-speed and reliable connectivity, the rise in testing of 5G technology in the U.S., Japan, South Korea, and China, surge in use of millimeter wave technology-based scanner systems in transportation and airports, and the rise in demand for smart devices drive the wireless backhaul equipment market. However, stringent government regulations and standards for wireless spectrum usage, and competition from alternative backhaul technologies, such as fiber optic networks hinder the global market growth. On the other hand, expansion of 5G networks, increasing deployment of IoT applications, and government support and initiatives to promote rural connectivity and digitalization will present new growth opportunities for the global wireless backhaul equipment market in the coming years.

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Covid-19 Scenario

The impact of COVID-19 on the wireless backhaul equipment had been mixed.
The demand for wireless internet connectivity increased as more people worked and learned from home. This drove the need for more wireless backhaul equipment to support the increased traffic.

The equipment segment to dominate the market during the forecast period

Based on offering, the equipment segment contributed to the largest share of nearly three-fifths of the global wireless backhaul equipment market in 2021 and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the fastest CAGR of 13.26% from 2022 to 2031. This is due to the increasing demand for higher data rates, the need for more reliable connections, and the need for more efficient use of spectrum.

The millimeter waves segment to achieve the highest revenue and fastest growth during the forecast period

Based on frequency band, the 6GHz to 42 GHz segment grabbed the highest share of more than one-third of the overall wireless backhaul equipment market in 2021. This is due to the increasing demand for high-speed data transmission, the development of new wireless standards, and the adoption of millimeter-wave technology in various industries. However, the millimeter waves (mmW) segment is projected to dominate the market in terms of revenue and witness the fastest CAGR of 13.95% from 2022 to 2031. Millimeter waves have emerged as a promising technology for the next generation of wireless communication and the segment is expected to play a significant role in enabling high-speed data transmission.

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The transportation and logistics segment to grab the highest revenue during the forecast period

Based on end use industry, the transportation and logistics segment grabbed the highest share of nearly one-fourth of the wireless backhaul equipment market in 2021 and is expected to dominate the market in 2031. The same segment would witness the fastest CAGR of 15.65% from 2022 to 2031. This is due to the increasing demand for real-time communication and data transmission in the transportation and logistics sector. Moreover, the growth of e-commerce, the increase in use of connected devices for supply chain management, the development of autonomous vehicles, and the increase in demand for efficient and effective transportation management contribute toward the growth of the transportation and logistics wireless backhaul equipment market.

Asia-Pacific to achieve the largest revenue and fastest growth by 2031

Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly two-fifths of the global wireless backhaul equipment market and is likely to maintain its dominance during the forecast timeframe. The same market is likely to show the fastest CAGR of 13.94% during the forecast period. This is due to the increase in demand for high-capacity backhaul solutions, growth of the IoT market, an increase in use of cloud-based services, large population, and the rise in urbanization in the region.

Leading Market Players

RADWIN
Qualcomm Incorporated
Mikrotik
Qorvo, Inc.
Cisco Systems Inc.
ZTE Corporation
Juniper Networks Inc.
Siklu Communication
Huawei Technologies Co., Ltd.
Ceragon Networks Ltd.

The report analyzes these key players of the global wireless backhaul equipment market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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